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MSNBC
Jan 14, 2013 5:00pm PST
ceiling. >> now, the other congressionally imposed deadline coming up is the so-called debt ceiling, something most americans hadn't even heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to tax and spend to the congress, and the congress alone. our current deficit is the result of money congress has already borrowed. president obama explained to the american people today how republicans in congress are trying to avoid doing their actual jobs. >> these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> if the american people do not catch on to the severity
CNBC
Jan 15, 2013 7:00pm EST
debt ceiling and cut spending and you can get all that done if you play your cards right. but what is the conservative advice for the republican party for the long run? what does the gop need to do to change it's message? and wheel ask pennsylvania governor comcore bet, we'll find out why people from virginia to maryland to new jersey are moving to his state and what will lance armstrong's doping admissions cost him. the lawsuits are already piling up. and possible criminal prosecution. but here is another question. could armstrong go to jail? the kudlow report begins right now. >> here is my quick take on his debt ceiling stand off. do not mess with the credit rating with the united states of america. however, you can race the debt ceiling and cut spending at the same time. on top of that, you kcan fix th $2 trillion situation. that is my take. charlie wrangle from new york and i begin with you. i don't understand why that can't be done. you can get that done. you are one of my buddies, but i object to you using the default. you have enough cash flow and the vast majority. i hate
MSNBC
Jan 14, 2013 7:00pm PST
the debt compromises. >> raising the ceiling doesn't authorize more spending. >> the president clearly came out putting it on the republicans. >> republicans in congress have two choices here, they can act responsibly. >> this is such a recipe for disaster for the republican party. >> or they can act irresponsibly, they better choose quickly. >> frankly all republicans have to bargain with. >> yes, they are, yes, they are. >> they're holding us hostage. >> are we heading to a shutdown. >> this could be a financial disaster. not only for our country, but for the world. >> social security checks and veteran's benefits will be delayed. >> i don't think it is a question that is even on the table. >> ironically would probably increase our deficit. it is absurd. >> the president won't back down on the debt ceiling or on gun safety. >> the pressing issue of gun reform. >> exactly one month after the tragedy at sandy hook. >> if there is a step we can take that will save even one child we should take that step. >> gun violence continues to wreak its deadly toll each day. >> this is a moment to
FOX News
Jan 21, 2013 2:00am PST
where you stand. the most important issues for our country such as debt ceiling spending and the gun control debate. >> that's where we begin our first pole this morning. when asked if you think the tough gun control laws will prevent acts like the noun shooting 41 percent say no people will still try to commit the acts. 22 percent said yes. we asked about finances. those polled say income taxes will likely go up this year 11 percent more than the number who believe gun laws will change. 48 percent say they expect changes through immigration reform this year. 21 percent believe the deficit will get smaller. >> when it comes to the deficit in spending 83 percent were told they believe government spending is out of control that's up from 78 percent back in february 2010 and the next economic debate is whether to raise that debt ceiling. 69 percent of you said it should only be raised after major cuts are made where 23 percent say it would be reckless not to. it is coming up. >>> powerful wind gusts tearing through the midwest knocking down this frtree and causing ito fall into the hous
PBS
Jan 14, 2013 10:00pm PST
. >> brown: congress has until march to raise the debt ceiling and prevent a government default. most republicans have insisted that with the government facing another trillion dollar deficit this year, any increase in borrowing authority must be tied to cuts in spending. the president flatly disagreed. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> brown: the 2011 stand-off between the president and republicans over the debt ceiling led the nation to the bryning of national default. standard and poors even lowered its rating on u.s. government bonds. today, president obama said any repeat performance would be, quote, irresponsible. >> if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. >> brown: at the same time, the president rejected urgings by some democrats that he raised th
FOX Business
Jan 20, 2013 2:30am EST
our debt ceiling. >> talking about spending cuts. what does it say about us. >> the cuts are needed and to tracey point no one can push them there in programs like the 160 mlion transportation subcity. besides the fact that it is full of proud and 25 percent of it is fraudulent. whdo they get the unbelievable perks that no one gets. it is 48 more than those in the private sector. >> and christian, this takes washington to a w level of disappointment because they don't get it to a vote and address the program for taxpayers. is this a signal that nothing is going to change. >> you are suggesting that you shouldn't subsidize transit but subsidize transit. this is not only available to federal workers it is available to any employer and in metropolitan areas, more than half of private employers are requiring the taxpayer subsidies. you want to say they are treated porce. >> wane, wane, you look amused by this discussion. >> every program is justified by it is needed. it is need therefore we do it. if you don'tut can the fat with all due respect. federalorkers are taxpayer . why should h
FOX Business
Jan 14, 2013 9:00pm EST
to start for the president today talking about his tone talking about the debt ceiling. here is the prident. >> the debt ceiling is not a deal of authorizing more spending. raising the debt ceiling does not authorize more spending, simply allows the country to pay for spending that congress has already committed to. gerri: what do you say to that? speaker he is gearing up for a partisan brawl. his press conference today was a little hypocritical because whe he was a senator in 2006 and george bush wanted to raise the debt ceiling he said no and called george bush failed president. gerri: one of the reporters got up and said only a few years ago you were saying that this kind of fight makes no sense, would have to have fiscal discipline. what do you say to this? speak of the president has been the beneficiary of large increases in mandatory spending because two-thirds of the spending is mandatory so he doesn't have to pass bills increase spending. the public is not aware of it, spending now 24% of gdp historically 20% of gdp. gerri: and deficits far as the eye can see. clearly this is a situation that cannot continue forever. they have said let's take it to the c
KOFY
Jan 14, 2013 9:00pm PST
with house republicans over the debt ceiling. mark matthews looks at the challenge the president is facing. >> president told reporters raising the debt ceiling is not a question of more spending. >> it's simply allows the country to pay for spending that congress has already committed to. >>reporter: then he repeated that. >> raising the debt ceiling does not authorize to us spend more. >>reporter: in the 40 minute press conference he said it half dozen times. >> this is about paying your bills. >>reporter: if the u.s. defaults on the debt. >> social security checks veteran benefit will be delaye delayed. might not be able to pay our troops. honor our contract with small business owners. >>reporter: house republicans say it is about spending. they want corresponding spending cuts for every dollar that the debt ceiling is raised. today speaker of the house boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. president said he will negotiate spending cuts but not with the economy hanging in the balance. >> full faith credit of the united states of america is not a bargaining chip. >>reporter: president challenge
MSNBC
Jan 19, 2013 12:00am PST
their debt ceiling hostage strategy. >> no president in the near future, maybe in the distant future, will be able to get the debt ceiling increased without a reignition, reigniting of the same discussion of how do we cut spending and get america headed in the right direction. i expect the next president, whoever that is, will be asking us to raise the debt ceiling again in 2013. we'll be doing it all over. >> today, mitch mcconnell doesn't sound so tough. instead of demanding spending cuts on entitlement reform, here is his new demand. the american people expect the senate to finally pass a budget. this is the new republican leverage. it's a pretty weak hand. don't you think? house republican whip kevin mccarthy was in full spin mode about the new terms of the debt limit fight. >> the senate has never even passed a budget. tts rule of the law that by april 15th, you have to. so, we're saying we will extend the debt limit until the timeline where you have a budget, a road map. so you stop digging yourself in the hole and we get out of this problem. part of not having the budget has gotten us into this problem in the first place. >> the senate is had an operating under the 2011 budget control act. demanding the sena
NBC
Jan 14, 2013 6:00pm PST
do know courtesy of the bipartisan policy center. if congress fails to raise the debt ceiling the government can spend only what it received in daily revenues each day. those revenues won't cover about 40% of government debt obligations for the month. the treasury would have to pick and choose between more than 100 million monthly payments to figure out which ones to cover. the only payment virtually guaranteed is the interest on our debt, which brings us to our next fact check. >> if congressional republicans refuse to pay americans' bills on time, social security checks and veterans benefits will be delayed. >> reporter: something social security payments may seem like a hostage in all of this but they don't have to be. the truth is social security has its own dedicated income stream with a reserve of trillions of dollars invested in u.s. treasury bonds. those bonds can be without raising our national debt. bottom line, the government chooses, social security checks can continue to flow. lastly, the president began his address with this declare tiff statement. >> raising the debt ceiling does not authori
FOX News
Jan 15, 2013 3:00pm PST
republicans to insist on spending cuts in order to raise the debt ceiling and key senate republican says mr. obama doesn't get it. >> you have a kid that keeps a credit card loaded and a person that would tear up the credit card but you look at the credit. republicans are willing to pay for past bill but this is about the future bill. the president misses the point here. >> reporter: today, house democratic whip steny hoyer said new revenue must accompany spending cuts. for day, the final passage is expected in the house in the next hour or so. bret? >> bret: mike, we will follow that on fox. thank you. ominous note now from one of the world's top credit agencies. fitch rating says the u.s. could lose the top credit rating if there is a delay in raising the debt limit. we'll find out with the senior political analyst brit hume thinks about this. good evening. >> good evening. the warning from the fitch rating agency today is certainly will become talking point for president and democrats who claim the republicans are using the debt ceiling recklessly as leverage for spending cuts. w
FOX Business
Jan 16, 2013 6:00pm EST
have our work cut out for us. >> i was noticing that since 1990, we have raised the debt ceiling 18 times. back in 1990 come the first time we raised it, the debt ceiling was $3.12 trillion. the debt ceiling is raised, the spending gets raised. and it never comes back down. >> that's right, it goes up and it never comes back down. in the past, sometimes we have insisted on cuts along the way. now we're finding ourselves in a position where we have $16.5 trillion of debt and cuts are not going to cut it anymore. it has to be more than cuts. it needs to be permanent structural spending reform. that's what we need. >> what john boehner headset is dollar for dollar. spending cuts with debt ceiling heights. what should they cut? give me a list. you might we talk about it from the standpoint of cuts, don't think cuts are going to do the job. we have to permanently reform the way washington spends money. >> okay, somebody want to to do that. >> we do that is through an approach that we referred to in the last debt limit debate is cat cut cabin balance for the short of it is to say that we can raise the debt limit we're not going to raise the debt limit, we shouldn't we put into place a balanced budget amendment to the const
MSNBC
Jan 15, 2013 12:00am PST
straight on the debt ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to spend to congress. the result is the money congress has already borrowed. president obama explained to the american people in congress how they're trying to do their actual jobs. >> these are bills that are racked up. and we need to pay them. so while i'm willing to find compromise on how to pay our debts, americans should not be stopped from paying the bills we racked up. >> the country will be in a dire situation. president obama knows this. he proved it before, and he is not going to play games with economic stability. >> so we have to pay our bills. and republicans in congress have two choices here, the
FOX News
Jan 21, 2013 12:00am PST
cuts a few weeks back, here is what president obama said monday about the debt ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a sign of leadership failure, it's a sign that the u.s. government can't pay its own bills, it's a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. leadership means that the buck stops here. instead, washington is shifting the burden of bad choices today on the backs of our children and grandchildren, therefore intend to oppose the effort to increase america's debt limit. in 2008, candidate obama blamed president bush and called the growing debt unpatriotic. >> number 43 added 4 trillion dollars by his lonesome so that we now have over 9 tril
FOX News
Jan 20, 2013 11:00pm EST
, here is what president obama said monday about the debt ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a sign of leadership failure, it's a sign that the u.s. government can't pay its own bills, it's a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. leadership means that the buck stops here. instead, washington is shifting the burden of bad choices today on the backs of our children and grandchildren, therefore intend to oppose the effort to increase america's debt limit. in 2008, candidate obama blamed president bush and called the growing debt unpatriotic. >> number 43 added 4 trillion dollars by his lonesome so that we now have over 9 tril
FOX Business
Jan 15, 2013 1:00pm EST
exchange for raising the debt ceiling. rich edson has the latest. rich: they have been figuring out what they want to propose. perhaps floating a delight in the implementation of the president's health care law. the bulk of the spending starts in 2014. that is just one of them any options they are hoping to discuss. major tax and entitlement reform. that will be discussed throughout the rest of the week. >> we have to come to a point where we stand and fight. i hope this is the time. there is no such thing in this definition. we'll pay social security, will you pay medicare or would you use it as a tool to try to get the house republicans to cave? rich: president obama said he will not negotiate. he will talk spending cuts and, perhaps, revenue. back to you. lori: thank you so much. new warnings on the debt ceiling. timothy geithner telling congressional leaders that the u.s. will exhaust its limit mid-february. bernanke urging congress to extend borrowing authority well before the deadline. the u.s. could lose its aaa rating, so where do we go from here? wonderful to have you with us. you believe the u.s. will not default on its debt. how will washington get to that point? there is a proposal of delaying inflammation of th
ABC
Jan 14, 2013 6:00pm PST
. >> then, he repeated that. >> raising the debt ceiling does not authorize us to spend more he said it a half dozen time autos this is about paying your bills. debt... >> social security checks and veteran benefits will be delayed. we might not able to pay our troops or honor our contracts with small business owner autos house republicans say it's about spending. they want cuts for every dollar the debt ceiling is raised. >> the president said he will negotiate spending cuts. >> the full faith and credit of the united states of america snot a bargaining chip. >> but the challenge is a lot of people we've talked to had no real grasp of what it meant to raise the debt keeling. >> what does that do? >> puts us nor debt. >> raising the debt keeling alouz him to borrow more money. >> half of the people had no idea what it was. >> i believe that they make things purposely conpusing. >> the president wants to turn up the heat he's got to make the issue clear z as abc 7 news explains, republicans need to decide if they want to stand their ground on thish yu at the risk of a down turn. >> i
CSPAN
Jan 15, 2013 7:00am EST
we should raise the debt ceiling. we should have across-the-board cuts. we spend too much money. people don't deserve a free food, phones, medical care. somebody has to pay for everything. they say i need money for this and that. the funny thing is the people in the state ultimately owe the money. we are the guarantors. we are the ones that'll all the money. we will have to stop spending. host: you agree with sequestration, something that could happen in two months, the automatic spending cuts across the board? caller: have you ever gone to the bank and they told you no? host: so you agree with it? caller: it's going to be hard, but we have too many people so accustomed to receiving a check from the government, the day is coming. we can either do it a little at a time or have it on us all at once. we have through stops spending -- we have to stop spending. if we owe a debt, yes we should pay. but just because we told somebody if you want a free phone, we will give your free phone. we don't know that person a free phone nec's market. and we don't owe all these other countries for
FOX News
Jan 15, 2013 2:00am PST
absurd and irresponsible. >> raising the debt ceiling does not authorize us to spend more, all it does is say that america will pay it's bills. we are not a dead beat nation. >> in a statement john fwhier says the consequences of failing to increase the debt ceiling are real so, too, are the consequences of allowing our spending problem to go unresolved. republican senator mike lee of ue ah taw says the government needs put into place structural spending reform because simple spending cuts will no longer do the job. we are going to face another credit downgrade i fear because we will face it again without think being the way paushiwashi spends money. >> he is willing to work with republicans to reign in spending. he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from
CNN
Jan 15, 2013 8:00am PST
>>> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and water not a dead beat nation. >> sounds simple, doesn't it? but like so many other crises and standoffs from the past two years, raising the nation's debt ceiling is a zero sum props. somebody wins only if somebody else loses. we're speaking of of course politically here, not financially. economically it's hard to find any winners if the treasury can't close the budget gap. runs about $100 million every month. my next guest worries about it a lot. signor partner and managing director of the boston consulting group and author and columnist. so this becomes tricky for people tound, but essentially the debt ceiling, is it the kind of tool that anybody should be used in order to force people to be more austere in the way they spend in the future? >> well, it's a way to do it, but it's a very dangerous way to do it because we start playing with everybody in our economy eye lives. so if we hit the debt ceiling and we don't have a bill that changes it, when we hit somewher
CNBC
Jan 22, 2013 1:00pm EST
up their fight to tie the debt ceiling to spending cuts. will that make a deal easier? what does it mean for your taxes? one influential congressman will join us and give us answers. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. >>> another difficult day for boeing shareholders. shares are still under pressure. it's becoming clear the quick fix that boeing had been hoping for over its 787 dreamliner problems is becoming much less likely. fill lebeau has the latest on this. not a good situation at all for boeing. >> it's tricky. they still don'tfor the two inc. they have to peel back the onion further. i have had people saying what are they doing at boeing? are they working with the ntsb? a lot of it is centered around the everett factory, where the dreamliner is built they are out there doing tests, working in teams. i'm told it's hundreds of employees working on this 787 problem. they're not in one central location, but spread out throughout the boeing facility. boeing is tapping a number o
FOX Business
Jan 16, 2013 4:00pm EST
, i look at a debt ceiling which started at 10 billion, 10 trillion dollars when the president came into office. it is now $16 trillion. don't we need restraint of a debt ceiling to prevent the spending from even going further? >> no. and it doesn't restrain spending at all. congress makes the decisions as to what to spend, what the level of taxation should be, what the level of spending should be. the debt ceiling is just there and, says you can not pay the bills that you voted to incur a year ago and two years ago and three years ago. and that is just wrong. now it used to be harmless in that the debt ceiling would be raised with a little demagoguing here and there but no one ever seriously suggested not raising it. it was raised seven tiles during the second bush administration with no great debate. but now it is being used as blackmail and could wreck the entire american economy if we don't --. david: hold on a second, congressman. 2002, june 2002 two, in november, 2004 and november 2006, guess who voted against raising the debt ceiling. jerry nadler, member of congress. what has changed. why were you against, in favor of keeping debt ceiling restraint then and not so now. >> it becau
CNN
Jan 15, 2013 2:00am PST
the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are designed to be used only by one person, but an investigation discovered that many of them were used on multiple people. >>> are you in hawaii or going there anytime soon? surfers, beware. check out this video. it's a real-life jauss. two sharks were swimming dangerously close to the show. can you believe it? look at that. you could wade in and be bitten, eaten. last year there were a total of 11 shark attacks in hawaii. >> that's what i call dangerously close. >> oh, my goodness. >> so some people in the southeast waking up to the dual danger of flooding and ice. alexandra steele in the weather center. good morning. >> good morning, guys. each snow potentially for you around new york city. >> tri
FOX News
Jan 18, 2013 3:00pm PST
talking about the debt ceiling. versus spending cuts. chief congressional correspondent mike emanuel reports on the house g.o.p. winter retreat in virginia. >> at the house g.o.p. retreat in williamsberg, virginia, the leaders decided they will pass three-month temporary increase to give them time to finalize a budget. speaker boehner said before there is long-term debt limit increase a budget should be passed that cut spending. the house g.o.p. whip hinted at the strategy. >> our hope is to pass something early so the senate can take action as well. i wouldn't be jeopardizingor economy there. it shows it's a rational, put us on a better path. and i would hi the american public could support it and the senate as well. >> fox news poll reveals 83% think government spending is out of control. up five points from two years ago. 69% of those surveyed say the debt limit should only be raised after major cuts. aides to the number two senate republicans does not support giving president obama a blank check but told "houston chronicle" editorial board, "we will raise the debt ceiling. we are
FOX Business
Jan 17, 2013 1:00pm EST
of them coming up. there is the debt ceiling to have to deal with, there is government spending that expires in march and those automatic spending cuts, sequestration is supposed to hit the federal budget. and right now it appears a strategy that republicans are beginning to coalesce around, perhaps a short-term debt ceiling increase, pass that through the house with spending cuts, deal with the other elements of government spending and then set up a protracted argument or debate over the debt ceiling going forward. as republicans say, when it comes to their strategy, cutting spending is imperative. melissa: there's no celebration the fact we're a nation of $16 trillion in debt and you have someone in the white house that says to do the one thing that makes absolutely no sense whatsoever, and that is raise the debt ceiling with no change in the future? that is actually an absurd argument i don't think any householder in a state run well operates like that. >> house budget committee chairman spoke to reporters a short while ago saying this to work in the strategies on all this trying
CNBC
Jan 14, 2013 7:00pm EST
conference of first term to draw an ever-brighter line with congressional republicans on the debt ceiling. they say they want dollar for dollar spending cuts to be matched with an increase in the debt ceiling. the president said i'll negotiate with you, but not over the debt ceiling. he simply is not going to allieu republicans to take the full faith and credit of the united states and the health of the u.s. economy as hostages. >> they will not collect our ransom in exchange for crashing the american economy. the financial well-being of the american people is not leveraged to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. >> now, house speaker john boehner responded quickly saying house republicans will do the right thing. they will be responsible, they will meet america's obligations and make sure the government does not shut down. he tried to take that specter off the table. but this is a very tough fight that's getting more and more problematic, larry, because the president said he's going to break the habit of crisis-driven fisc
CNBC
Jan 16, 2013 3:00pm EST
think the republicans should use the debt ceiling as leverage to cut spending. >> i think that would be a grave mistake. i don't think that would solve anything. i know they are going to try it, and how far you go with that game of chicken i have no idea. >> and more and more republicans are agreeing with him, but utah governor gary herbert, he's not one of them. find out why he's willing to play that game of chicken straight ahead. later on, how badly will the debt ceiling fight end up hurting the economy? ahead, a member of one of the largest private equity firms will be here with his outlook. stay with us. me it...i've hooke. but there's one... one that's always eluded me. thought i had it in the blizzard of '93. ha! never even came close. sometimes, i actually think it's mocking me. [ engine revs ] what?! quattro!!!!! ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today
CNN
Jan 15, 2013 6:00am PST
debt ceiling without reducing government spending at the same time. the consequences of failing to increase the debt ceiling are real, but so, too, are the consequences of allowing our spending problem to go unresolved." joining us is amy kremer, chairwoman of the tea party express. thanks for coming in this morning. >> thanks for having me. >> safe bet you're against raising the debt ceiling without spending cuts. >> the problem is the spending cuts never come. the republicans find themselves in the situation all the time t happened with reagan and bush 41 and with the sequester, it's been put off for two months, the spending cuts never come and we cannot continue down this path with over $16 trillion in debt, and a deficit of $1.4 trillion to $1.6 trillion per year. we're spending $1.6 million per year than we're bringing in. >> you've accused the president of using scare tactics. what do you mean by that? do you think he's lying about what could happen? >> the thing is, you know what, first of all it's not congress that determines if we default. it's the treasury so i guess that
KICU
Jan 15, 2013 4:00am PST
debate over raising the debt ceiling, which could reach its lmit in mid february. "raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up, and we need to pay them." president obama warns that if the debt limit is not raised or used as leverage by republicans, markets would go haywire, interest rates would rise, and checks to military veterans and people on social security would end. gop senate minority leader mitch mconnel reponded by saying, "the president and his allies need to get serious about spending, and the debt-limit debate is the perfect time for it." traders will get their first opportunity to react to comments at the market close yesterday by federal reserve chairman ben bernanke. among the highlights, the fed chair says, the federal government is not out of ammunition, the fed's bond-buying program is not likely to lead to higher inflation, and the fed sees positive signs in the economy. bernanke made the comments during an appearance at the university of michigan. nike is m
CSPAN
Jan 15, 2013 1:00am EST
so-called debt ceiling -- something most americans hadn't even heard of before two years ago. i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. if congressional republicans refuse to pay america's bills on time, social security checks and veterans' benefits will be delayed. we might not be able to pay our troops, or honor our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down loose nuclear material wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go haywire. interest rates would spike for anybody who borrows money -- every homeowner with a mortgage, every st
CBS
Jan 22, 2013 4:00am PST
will be only partial. >> reporter: so republicans are offering a compromise on the debt ceiling. house gop members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling has raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. i think we realize the president won the election. >> reporter: but republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a highe debt limit, they want senate democrats to do something they haven't done in four years -- pass a budget. >> for us to have a debate about spending and debt, we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> reporter: senate democrats view the vote as an opportunity to raise more money for taxes. >> it's going to be a great opportunity for us. in our budget we lift budget reform which many of my republican colleagues like, but it's going to include revenues. >> reporter: the house is expected to approve the debt limit increase tomorrow. no dollar amount specifically is in the bil
FOX
Jan 15, 2013 4:30am PST
not raise the debt ceiling. president barack obama said we are not a dead beat nation and congress wants to pay its bills but we do not want to be tied to spending cuts. >> they have two choices they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. >> house speaker phil boehner indicated the gop is prepared for a fight and the consequences to fail to increase the debt ceiling are failing as well as allowing the spending problem to go unresolved. the concern is that if congress fails to act on the debt ceiling, the national economy could dip and that could likely have and i affect on california's budget numbers. >> the risk to our forecast numbers could come next month and that's what the federal government chooses to do or not to do regarding the debt ceiling. >> the budget released by governor jerry brown showed a budget surplus for the first time in many years. >>> right now it is 4:44 let's check in with sal on an early morning report on traffic. >>> good morning everybody, it is chilly, let's take a look at traffic on 880 westbound as you head to the mcarthur maze. if you a
FOX
Jan 15, 2013 5:00am PST
pay its bills if congress does not raise the debt ceiling. president barack obama will not negotiate with congress on this issue. while republicans want any increase in the debt ceiling to be tied to spending cuts... >> the issue here is whether or not america pays its bills. we are not attend beat nation and so -- there is a very simple solution to this. >> now in a statement, house speaker phil boehner indicated the republican party is prepared for a fight and the consequences of increasing the debt ceiling are real but so too is the consequences of allowing our spending problem to go unresolved. >>> they are closely watching this debt ceiling battle in washington and if congress does not act on the debt ceiling, the national economy could fall and that would have a negative affect on california's budget numbers. they revealed a budget surplus in many years and that's thanks to a new tax revenue from proposition 30 as well as spending cuts. >>> the social media is buzzing about a possible announcement by facebook. janine de la vega joins us now from menlo park with more on a mystery event that is going to take place in just a few hours, good morning. >> reporter: good morning pam, we did see
Current
Jan 14, 2013 4:00pm PST
debt cereal something not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. the issue here is whether or not america pays it's bills. we are not a debt-deep nation. >> cenk: i like it. now normally i say it should have been stronger, but it was pretty strong and he made his point very good. it continues. >> obama: this is not an implicatedcomplicateed subject. you don't go out to dinner, eat all your want, and then leave without paying the check. if you do, you're breaking the law. and congress should think about it the same way that the american people do. >> cenk: i like it, man. i do. that's exactly right analogy. you know, of course, i'd go further, but i would every time, right? i'd say listen, the republicans spent this money. they spent it in tax cuts for billionaires and millionaires, they spent it in the iraq war afghanistan, the great majority of this money was spent by george w. bush. now i'm going to make them pay the bill. i would turn it around on them. that's
MSNBC
Jan 19, 2013 3:00pm EST
think they have a lot of betting power here at all. the debt ceiling was the biggest bargaining chip that they had and they just moved it to basically a totally different battle which would be over the budget and spending in a few months. >> you're segeing an emerging consensus that you can't control the entire government if you only control one part of congress. seeing the hits they took in 2011 over the debt ceiling fight over the fiscal cliff battle and trying to reorganize their strategy here. >> was there some polling conducted or was there something else that acted as an impetus? was there some sort of epiphany in williamsburg? >> in williamsburg, their own republican pollsters presented their numbers and headlines are more popular right now than republicans in congress. >> you don't need a pollster to tell them what happened in the last couple of months with their reputation and the divisiveness among the caucus that's been very well publicized. >> the white house has responded to this proposal by calling it, quote, a terrible way to run the country and the president has a hard line stance of not negotiating on the debt ceiling. do we think that the white house takes this deal or do we think that t
MSNBC
Jan 19, 2013 12:00pm PST
, i mean, if we have a clean debt ceiling bill that comes forward and it's only for three months, that's something that i certainly would consider, but to tie a rise in the debt ceiling to decreasing spending on programs that benefit the middle class, i think it's the republicans' ultimate objective and i certainly do not support that. so we can postpone the day of reckoning, kick the can down the road as this -- the 112th congress did and as the 113th congress -- >> congressman, i didn't mean to cut you off there, but i do want to follow up to something you said, do you support cutting spending at all? do you support cutting any aspect of spending? >> i think that's a legitimate topic that should be under discussion. i think there is a lot of room in the defense budget for cuts, but our primary focus in terms of the economy should be job creation. so that means that the government has to spend in order to create economic stability. economic progress. we need jobs in this economy for middle class people and that's what will make this economy stronger and so if we cut then we're going against that very basic economic principle. when you constrict the budget and cut off the flow of money, you'r
Current
Jan 15, 2013 5:00pm PST
, why does the debt ceiling exist in the first place. does it serve any function? >> it doesn't. essentially, the one function it does serve is members of congress can be hypocritical. they can vote for spending. and then pretend a year later when the bill comes due that they don't have to pay for it. and berate the excessive spending. it is really a tool for constant and unrelenting hypocrisy by congress. if we pass a budget, when we do that's what affects the debt ceiling. if you pass a budget and there's a trillion dollars that will be spent on iraq and you have no way to pay for it, the debt becomes due and you've got to pay that bill. so the debt ceiling has been abused frankly by both parties but in the past, it has been about hypocrisy and grandstanding. now it is actually about defaulting on our bills. so congressman nadler and i and others are saying hey look, it is time to be straight with the american people. if we vote for a budget that requires cuts or revenues, then at the moment we vote for the budge set when we have to take responsibility for the consequences. >> john: sir, yesterday in the president's press conference, he mentioned how an spp downgrade he blamed it on the republic
FOX Business
Jan 18, 2013 4:00pm EST
. remember the boehner rule dubbed the boehner rule says any increase in the debt ceiling must correspond to equal amounts in spending cuts. >> not quite the same reaction from house minority leader nancy pelosi saying: >> so the republicans are taking the debt ceiling debate moving it off a few months perhaps take place in april or may so they can focus on the automatic spending cuts set to hit the budget at the end of february those are known as sequester and also government discretionary spending authority that runs out in march. plenty of budget fights and it looks like we will be having them just about every couple of months all the way through the spring. david: as long as you are in williams burg virginia what do you care? it is a lovely place to be right now this time of year. rich: yes and the wind has died down and the snow is melting. it's a nice place. david: thanks rich. liz: we will find out what a representative thinks about the debt ceiling bill that will hit the floor next week and find out why she's calling for congress to get rid of the debt ceiling all together. david: also, all the fighting in d.c. co
FOX News
Jan 14, 2013 4:00pm PST
debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really might happen? neither side is ready to blink yet. he has laid out they are ready to compromise if possible that could lead to a government shut down although probably not right away. president obama suggested right before the u.s. the people at home might be told they have to wait for their money. >> if congressional republicans refuse to pay america's bills on time social security checks and veteran's benefits will be delayed. we may not be able to pay our military air traffic controllers specialist who track down lose nuclear materials wouldn't get their paychecks. >> that's not default but credit agencies would likely downgrade america's rating that would raise the cost of borrowing money. ben bernanke says it's very, very important congress avoid this. >> republicans know it is not the first thing that would come from not paying all of our bills. from their view ever increasing debt is not an answer. house speaker john boehner says the consequences of failing
FOX News
Jan 15, 2013 12:00pm PST
the american do not support raising the debt ceiling without cutting spending at the same time. boehner calls the debt an anchor on our economy. here's the leading senate republican, making his point. >> it's sort of like you have a kid who exceeds the credit card limit. you tear up the credit card, but you look at the spending. the republicans are willing to pay for past bills. these are about future bills. the president is missing the point that we are on an unsustainable path. >> reporter: portman acknowledges the need to raise the debt ceiling, but he supports the context of getting a handle on the spenning. >> shepard: this is disaster relief for victims of super storm sand gee right. we have had plenty of lawmakers saying we need to get a handle on government spending, but not when people are waiting for major disaster relief money. a key new jersey democrat is saying people from new york, new jersey and connecticut pay their fair share. three state, 16% of the taxes. you ask the question: who suffered because of super storm sandy? certainly, our neighbors in new york and
FOX News
Jan 16, 2013 4:00pm PST
democrats to paint the republicans as extremists in their desire to attach the debt ceiling to spending cuts. and that's exactly what congressman gerald nadler democrat of new york did today along with other democrats, listen up. >> the intent on blackmailing the country. they say to us if you do not agree to massive cuts to social security, medicare, medicaid, and other social programs, we will refuse to raise the debt ceiling and thereby cause an economic catastrophe by making the country default on its debts. >> house republicans if anything are more determined than ever to tie any increase in the debt crilg to spending cuts. they are huddled away at their retreat in williamsburg, virginia as we speak. determined to present a united front against this. in fact, the theme, they are gathering down in williamsburg is many voices. one conference. a senate republicans are equally determined, listen up to senator john have speaking earlier today on fox news. >> we have a spending problem in this country. people all across the country know it they know it in wyoming. families have to balance the
CNBC
Jan 16, 2013 7:00pm EST
half hour the debt ceiling debate now seems to be splitting conservatives. that's right. and, again, i say raise the debt ceiling and then for the president to make spending cuts and follow through on the sequester. many conservatives including my good friend coke brothers free market folks agree with me. a new team of conservatives say threatening the president with a default is the only way to make progress. they are totally wrong and we'll debate it. also don't look now but the economy got pretty good double dose of good news today, increased manufacturing and reduced inflation all looks pretty bullish. first up former republican congressman joe scarborough wants to remake the gop and in his latest op-ed he says now is the party's time to choose it's path for the future. all right. here now is my friend joe scarborough, host of msnbc's "morning joe." joe, you know what i like? i like the editorial but i like the tone. republican party's stand pat is going nowhere. let's start with your quote of my former friend and boss william f. buckley you should vote for the mo mos lectable conservative. >> no doubt about it. we made so many mistakes, self inflicted wou
MSNBC
Jan 19, 2013 1:00pm PST
, like playing boggle with the three deadlines coming up and making sure that the debt ceiling comes last, they will look more reasonable and they can hammer on about spending without them holding everything hostage. i saw paul ryan wins and say he is not going to use that word. >> the nonprofit that was launched today, organizing for action, i spoke with jim messina, a few minutes ago about it. it plans to bring the president's second term agenda forward. what can you tell me about the president's plan to take his goods agenda on the road campaign style? >> reporter: well, i can tell you, craig that, according to senior administration officials the president and vice president will be hitting the road in the days and weeks after the inauguration to sell their proposal for stiffer gun laws and gun safety package. it's a strategy they feel has been successful in the past. they used it during the fiscal cliff fight, the student loan debate and they feel it's a way to rally the american public on their side and to pressure congress to act. it has been successful in the past, will it be in this instance? of course, that is a big question mark. this is a very controvers
CBS
Jan 22, 2013 6:00am PST
a compromise backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. time now is 6:40. coming up, a terrifying turn of events in spain, a woman faints and falls in the path of a train, who came to her rescue. >>> the market just opened ten minutes ago, let's get a quick look at the early numbers here. our boards are not, woulding but we'll get an update from jason brooks. holly quan, holly quan a woman in spain faints and falls onto train tracks... she is rescued just as a subway is >>> caught on video, a woman in spain faints and falls onto train tracks and is rescued as a subway train is approaching. this happened yesterday in madrid. an off-duty police acted immediately. at the same time, people on the platform waved frantically to tell the train operator to stop. the woman's condition is unknown. >>> nonstop flights between san jose and tokyo are on hold through next monday. al nippon airways is grounding 787 dream liner aircraft, investigators are trying to address potential fire risk after incidents of battery- related smoke and heat dama
FOX Business
Jan 18, 2013 11:00am EST
, thank you very much. appreciate it. >> thank you. >> thank you. dennis: the debt ceiling quickly approaching. republicans struggling to come up with their next move. cheryl: planning seems to pick the can down the road yet again. rich and -- has a story. rich: the debt ceiling, automatic spending cuts, known as the sole questioner, and, of course, government spending set to expire. this is from paul ryan. what we want to achieve at the end of the day is a two-way discussion between democrats and republicans. out of that, hopefully, some progress being made to get this deficit and debt under control. we believe our obligation is to help prevent a debt crisis from hitting this country. republicans have had a tough spot here. the president of united states as he is not negotiating the debt ceiling. he says it is simply up to congress. it is due to spending that is already approved. the majority of republicans voted against the deal because there were no spending cuts. this was the first strategy session. we are going to have these fights throughout the spring. back to you. cheryl: we just had a guest trying to tell us to avoid the noise in washington. thank you very much, rich. dennis: let's take a look at apple shares right now. down five dollars. 1%. another tip today. an analyst sa
FOX News
Jan 16, 2013 8:00am PST
statute that calls for the debt ceiling in the first place, allowing spending in effect to go up and up and up without the artificial cap that the debt ceiling is indeed. democrats are explaining this in a press conference right now as we speak, so we'll be learning a lot more about it as the day progresses. republicans obviously deeply opposed to this thing, fearful that democrats will indeed use it to allow spending to go up and up. here is senator john barrasso speaking on fox news this morning. >> we have a spending problem in this country. people all across the country know it. they know it in wyoming. families have to balance their budget every year. many states do. we do in wyoming. it is time for the senate and the house and the president to get serious about limiting our spending and specifically the wasteful spending that continues. >> reporter: earlier this week we heard from house majority whip, minority whip, i should say, steny hoyer, increased revenues, more spending has to be part of any debt ceiling deal. that is a sentiment echoed by the president on numerous occasions
CSPAN
Jan 23, 2013 10:00am EST
majority that congress must pay its bills. that raising the debt ceiling isn't about spending more money, it's about paying for bills we already incurred. there is a bipartisan acknowledgement how difficult and serious the challenges before us have become, however, this proposal is just another attempt to yet again put the discussion off for another day. madam speaker, i came and saw the sign, no budget, no pay. probably should say no budget, delayed pay. but it sounds better when you say no budget, no pay. that means we may not be getting paid. we'll get made. it will be delayed. every year in this house we do pass a budget, although it's a budget i can't vote for, it's a budget that hurts the middle class, working class, the wannabe working class, and also hurts the american people safety net. we know again this year we'll pass that budget. so our friends on the other side of the aisle are putting up a no budget, no pay quite well-known they will probably pass their budget and we will probably get paid. on another thought, why not, as my good friend, mr. doyle from pittsburgh, ha
CBS
Jan 21, 2013 5:30pm PST
dropped their demand for deep spending cuts in exchange for raising thehe debt ceiling-- at least for now. it was partly a recognition that multiple showdowns over the debtcb and spending have hurt the g.o.p.'s standing with voters. a cbs news poll released lastal week found americans trust the president over congressional econ republicans to handle thea republic economy by 15 points.r john thune is a republican senator from south dakota. was this what the republicanrepublican party saying we're going too operate a little differently in a second president obama term?ell, i thi >> well, i think -- i do believe it's a recognition of politicalde reality. the pre we realize the president won the election and i -- so i think to some degree it was a recognition that for us to have a debateav about spending and debt we'vewe got to have the focus be on a and wha budget and what we're going to achieve a balanced budget over time. >> pelley: and that's why thee republicans have attached a caveat to their debt ceiling bill. they want senate democrats to do something they haven't done since 2009: pass a budget putting them on the record about to spend how much they want to spend next y
NBC
Jan 14, 2013 5:30pm PST
ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> reporter: and with washington once again careening toward a fiscal crisis, this one involving debt and spending, the president made it clear he intends to stand firm. >> if congressional republicans refuse to pay america's bills on time, social security checks and veterans' benefits will be delayed. >> reporter: the president acknowledged republicans could end up shutting down the government if he doesn't yield on spending cuts. but he warned against it. >> i think it would be profoundly damaging to our economy. i think it would actually add to our deficit, because it will impede growth. >> reporter: another more immediate political fight for the president, confirming his pentagon nominee, chuck hagel, a republican, who got a boost on "meet the press" sunday from former republican secretary of state, colin powell, who used the occasion to take a larger, deeper shot at the gop. >> there's also a dark -- a dark vein of intolerance of some parts of t
Current
Jan 15, 2013 3:00am PST
comes to the debt ceiling as the president pointed out yesterday over and over and over again because he kept getting asked the same question at the news conference, raising the debt ceiling does not say we are increasing spending. in any way whatsoever. it does not mean spending. what it means is -- congress authorizes spending. they demand spending on defense or on whatever the program happens to be. a new war. a new tax cut for the rich. they demand the spending. and then they have to -- it comes time to pay the bills. raising the debt ceiling means we agree we're going to pay the bills that congress has already spent. right? we're going to pay for the stuff that congress has already bought. as a president i thought it was an excellent analogy yesterday. you don't go to a restaurant and order a fine meal and then say i'm going to start cutting back right now. i'm not going to pay for that meal. you already ate it, babe! right? >> that's right. how fiscally conservative for them to say we're not going to pay that. let's just clear up this false equivalency that i think it was the first or second question who made the point at the press conference yesterday well, you voted against the debt ceiling in 2006 so what'
FOX News
Jan 16, 2013 1:00am PST
republican party for a very hard fall on both gun control and the debt ceiling. the president simply will not offer any compromise on federal spending that might get a debt deal done. on guns as we just heard, is he threatening executive orders. so i think the president simply wants to damage the republicans rather than solve complicated problems, at least at this juncture. joining us from washington with his take fox news political analyst charles krauthammer. i see it as a chess game. rather than both parties working together to get some gun legislation that might help folks control criminals in that area and rather than getting the debt ceiling done with some, you know, meaningful cuts in spending, the president says, you know, i'm not even going to bother. i want to alienate the republicans so that people will be angry with them. am i wrong? he has been doing that since elections day, i wrote a column ever since september pointing out entire strategy for the fiscal cliff was to split the republicans. it had nothing to do his offers had nothing to do with solving the fiscal issue or solving the debt. he showed nothing to solve the deb
MSNBC
Jan 15, 2013 2:00am PST
the debt ceiling, although he said he is open to more spending cuts. but he insisted that the u.s. is, quote, not a deadbeat nation. >>> walmart, the nation's largest retailer, will announce a plan today to hire every veteran honorably discharged in the last 12 months who wants a job which could mean 100,000 new jobs. >>> former president george h.w. bush was released from a houston hospital after more than seven weeks of treatment for bronchitis and related problems. >>> rand paul faces charges of assaulting a flight attendant on a january 5th flight in addition to underage drinking and other charges. >>> the chicago transportation authority is suing united airlines. they claim the airline is buying its jet fuel 70 miles away to avoid paying close to $300 million in sales taxes. the airline says the suit's claims are untrue. >>> students at the university of vermont should not bring bottled water had they return to campus because the school has banned its sale for environmental reasons. vermont is the largest public university to prohibit bottled water sales on campus. they've even c
KICU
Jan 14, 2013 7:00pm PST
debt limit is irresponsible and would harm the economy. republicans in the house want spending cuts if the debt ceiling is raised. >>> on wall street, stocks traded mostly sideways as the markets finished mixed. dow industrial gained 18 points. nasdaq dropped 8 weighed down by a decline in apple. the company saw its stocks slump following report apple has cut orsd for iphone 5 components. the report suggests demand for the iphone 5 stagnated relatively quickly. stokss dripped below 500 down $18 and change or 3 and a half percent. apple's all-time high is 700. >>> a bay area pizza chain is giving money back to its workers. ahead in eight minutes how the mistakes it made will be swallowed by customers. >>> the 2013 lease will be priced at just below 29 thousand tlrs. that's a 6 thousand $reduction from the previous model year. based on production of the e lek tris lease sold in the u.s. to tennessee to japan. >>> it's the confession many people have been waiting for. seven-time tour de france winner lance armstrong reportedly admitted to using performance-enhancing drugs. associated pres
CBS
Jan 14, 2013 5:30pm PST
american people do not support raising the debt ceiling without cutting government spending. we have learned tonight that former cycling champion lance armstrong is in discussions to return a part of the millions of dollars that his team received from the u.s. postal service. and he has indicated a willingness to testify against others involved in illegal doping. armstrong's u.s. postal sponsorship prohibited doping. last year armstrong was stripped of his titles after an investigation found systemic drug use on the team. the associated press is reported tonight that in an interview today with oprah winfrey, armstrong admitted that he used performance-enhancing drugs. recently we spoke to travis tygart the head of the. is anti-doping agency in his only interview for the showtime program "60 minutes" sports it was tygart who made the case against armstrong. some of the words that you used in outlining your case wereck "drug possession," "trafficking "coverup," "conspiracy." you describe lance armstrong as "the enforcer." pretty tough stuff.us >> serious business. the evidence was seri
CSPAN
Jan 23, 2013 5:00pm EST
that even when we're talking about seemingly arcane matters of budget policy, things like debt ceilings and spending in the outyears and budget caps and deficit or debt to g.d.p. ratios, that when distilled into common language these are the essential matters that americans care about. because they affect their livelihoods, they affect their capacity to find work and then find higher-paying work. growth of the economy, growth in job creation is essential to the president's vision. it is the core goal that informs everything he does on domestic policy and international policy. so, he believes that not only is it the right strategy to engage the ic people, it is essential as a reflection of why he's in this to begin with. to explain to them his vision and to listen to them about what their hopes are and the direction that they hope the country will move in. >> [inaudible] >> i have no scheduling announcements to make today but i can assure you he will be hitting the road throughout his second term. >> today marks one of the last times we'll see clinton on the public stage as secretary. we heard her recei
FOX Business
Jan 15, 2013 11:00pm EST
raise the debt ceiling what they think the debt ceiling represents, and it represents all this spending that i think that democrats are comfortable with, they believe that government bureaucrats can spent their money better than tax payers can spend their own hart earned dollars, i disagree with. neil: that brings you to brinkmanship games, the fact that we keep playing the same game. we never address the underlying spending. >> well, and that is why what john campbell just said did show a lot of little bit rally courage to say -- political courage to say public he is willing to shut down the government to force the president's hand, that is something that very few republicans are willing to do. i heard my liberal friend. neil: it will never come to that >> i don't think if will, i think they will make a deal. john campbell, is a stan out guy, and for him to say that we have do it now, because, the longer we put it off, the harder it will become when we come face-to-face with a fiscal realty of fact we borrow 40-cents on every dollar we spend. that is huge amount of borrowing, right new it i
FOX Business
Jan 15, 2013 5:00pm EST
hold the debt ceiling hostage over spending cuts, federal reserve chairman ben bernanke said there is no practical purpose to the debt ceiling and it is a device to prevent the u.s. from paying its bills. why are we watching washington fight over it? maybe we should get rid of it. here is susan occhs, american banker columnist and former senior advisor to president obama and stephen hayes, "weekly standard" and fox news contributor. i will ask you both and, susan, start with you. does it serve a purpose? >> it really doesn't. this is kind of a belt and suspenders operation. if congress wants input how much money to be spent, there are 13 congressional committees that spend appropriations bills that spend money. this is time to have the conversation. they're holding economy hostage. what was benign in the system is now become dangerous. melissa: has to be reason, stephen? says belts and suspenders. maybe we have own our belt has fallen off and this is all we have left. >> so only tempting to go with the pants down met at that far. melissa: i laid that up to you. you need to spike it ho
CSPAN
Jan 23, 2013 1:00am EST
manageable, to default on our debt. it is none of these. the debt ceiling is about paying the bills of the united states of america. the spending that this institution authorized, manipulating today, next week, or in three or four months, damages our economy and our credibility. in the summer of 2011, and i urge we all try to remember it, republicans in this congress pushed our nation toward default. there were clear consequences, clear consequences. today, they are prolonging and other debt ceiling showdown instead of a long-term extension. this continues and increases the economic uncertainty. our nation's economic wounds from 18 months ago are simply too fresh to ignore. august 2011 was the single worst month for job creation in the last three years. the dow jones slumped 2000 points in july and august of 2011, including one of its worst single-day drops in history. tumbling 635 points on aug.. the treasury was forced to spend $1.30 billion more in interest payments according to gao. the higher cost will be almost $19 billion over the next decade. of course, who could forget the u.s. credit rating was downgraded for the first tim
MSNBC
Jan 15, 2013 6:00am PST
that they will only increase the debt ceiling by the amount of spending cuts that they are able to push lou. congress has not been able to identify $1.2 ril onin cuts they are happy with. >> p obama's warning on the debt ceiling will republicans be able to use the debt ceiling debate as leverage to get big spending cuts? or will it be on the government funding? jinx me is congressman greg walden. member of the leadership and joins me now. congressman, good morning. >> good morning, chuck. good to be with you. >> nice to see you. let me ask you about this issue of whether the debt limit should be used as leverage or whether you are trying to convince your members to say, you know what, the better place to have a debate with the president about spending cuts is on funding with the government. >> first of all, chuck, you just wish the president weren't so adversarial in his tone and the way he deals with the congress. you know, in the past -- >> let me stop -- wait a minute. let me stop threw. >> a lot of people will say adversaryial relationships are a would-way street. >> they are.
CNBC
Jan 17, 2013 4:00am EST
position with the debt ceiling and spending negotiations still yet to really happen. and this is just another headwind that the economy seems to be having to face. with that in mind, you know, people are getting optimistic that we'll see a second half recovery. but that's almost in a way hope. there's nothing out there which really -- >> i've said it before, and i'll say it again, but i've heard the second half recovery issues every year. >> every year since the gfw. >> and to be honest with you, we're not seeing anything tangible out there which would indicate, yes, there's definitely going to be a second half pick up. we're expecting 2% growth this year overall. i think the risk is on the down side as opposed to the upside. >> how do you trade that? do you stay away from stocks? >> well, yes. at the moment in short-term, yes. we look at the economic growth potential pushing the rating up and with the corporate earnings still mixed, we think fundamentals are a little bit vulnerable. we think sentiment got quite bullish, which is normally a contrariry sign and we think from a technica
FOX Business
Jan 19, 2013 11:00pm EST
the debt ceiling, but how can we tackle ♪ gerri: retreating or regrouping? house republicans putting to a vote raising the debt ceiling for three months, but are thy backing off of their demands for spending cuts in exchange for raising the debt limit? with more on this, grover norquist, president for americans for tax reform. great to have you here. other republicans doing the right thing? >> i think so. there are three tools the republicans have to force obama to focus on spending, which she does not want to do it and will do unless forced. first is the sequester which starts march 1st or 2nd. that is a hundred billion dollars per year. that is the real cut in spending that will happen. the other one is the continuing resolution which starts march 4/7. we have a continuing resolution. they are the republicans that can put obama on a very short leash and only give him a continuing resolution for a week for two or three. cut the spending each time. those are two very powerful mechanisms. gerri: you don't in addition of the purse strings on the debt ceiling to use that at the a lever and give the president to stop spending? >> i didn'tsay that the man at the day. they just moved it back. gerri:
FOX News
Jan 14, 2013 5:00pm PST
national debt. the president wants to raise the debt ceiling for the 5th time in his administration but he doesn't want to commit to many spending limitations in the future. the house could possibly not give the president the power to raise the debt ceiling in february. >> republicans in congress have two choices here. they can act responsibly and pay america's bills or they can act ir responsibly and put america through another economic crisis. >> so you can see what the president is doing. he wants americans to believe the gop is the problem not massive spending. likewise on the gun control issue. the president wants it to come to a head to highlight republican opposition to limiting guns and ammunition. joining us now from washington fox news political analyst brit hume. seems to me presidethe presiden playing politics rather than problem solving. >> i think you have a point he would like to get republicans into it. i would put it a different way in the sense that i think he would be perfectly happy to get the gun control measure that he favors whatever they turn out to be when the recommendations come in to get them past through congres
CNBC
Jan 18, 2013 7:00pm EST
am 100% -- look, i do not want to mess with the debt ceiling. i don't want to mess with that. that's a domestic and international global meltdown. so to that extent i agree. i just didn't hear the rest of the story laid out very coherently regarding spending. i didn't hear it from paul ryan, and i didn't hear it from the leaders. and that's the part i don't get. the debt ceiling, three months, whatever. the continuing resolution, that's a little bit in the weeds. but all right. fine. you can work with that. but i didn't hear them say what that was going to mean for spending, either. >> that's a great point, larry. they're not articulating spending cuts enough. but when you have someone like paul ryan at this retreat in williamsburg leading the effort behind the scenes for the short-term extension, he's telling members, especially the skeptical back benchers, that when that cr comes up in a couple months, when that sequester fight comes up and defense cuts in a couple months, house republicans will push for the spending cuts but they don't want to lose the pr bat toll a president who's very adept at pointing his finger at republicans and saying they want to cause default. >> okay. i think they're losing the pr battle anyway. >> perhaps they a
FOX Business
Jan 18, 2013 1:00pm EST
increase the debt ceiling nor, this bill says, will lawmakers get a paycheck. the reaction from the senate majority leader harry reid's office, good that republicans are backing off holding the economy hostage because there are no significant spending cuts in this proposal. just a three-month increase, contingent on the senate passing a budget. in a statement, they say, if the house can pass a clean debt ceiling increase to avoid default and allow the united states to meet its existing obligations, we will be happy to consider it. so that is the plan right now for republicans. get this debt ceiling debate out of the way for the next three months. focus on government spending, those automatic government spending cuts that are supposed to hit at end of the february known as sequester. all of that starts the spending fight now, republicans say. move onto the debt ceiling to give at least a little bit more certainty or calm economic panic for the next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-
FOX Business
Jan 16, 2013 1:00pm EST
, thank you. we'll be back in 15 minutes. tracy: the dance over extending the debt ceiling in washington is on as lawmakers on both sides of the file fight over issues like deficit spending and things we've been talking about for years now. rich edson is in washington with more. any progress, rich? >> no. with about a month or so. ashley: rich, thank you. >> back to you. look we've got about a month left before the government reaches the debt ceiling and the two sides are as far apart as they ever been. democrats say congress routinely increases debt ceiling. it allows the federal government to pay for spending it already approved. they say deficit reduction is different argument and they're now proposing eliminating the debt ceiling. >> we must not permit an artificial debt ceiling to throw the country into default and our economy into chaos and depression which is exactly what the republicans are threatening to do. it is time to abolish the debt ceiling and our levels of taxation and spending will be set as they always have been by congressional action. >> republicans argue washington has linked several increase in the debt ceiling to deficit reduction deals. it serves as
FOX Business
Jan 15, 2013 9:00pm EST
did not like the debt ceiling prices go away. they also said the current outlook is likely to be resolved even if another debt ceiling crisis is averted. they want to see spending cut. now, do you think that the markets would go to town if there was some big deal on spending? >> i think if substantial progress was made at kirby expenditures over time so that this threat of a data rate could be taken away so that the u.s. aaa credit rating could be reaffirmed, markets would respond positively, and that thing that businesses would like this type of development. gerri: absolutely. ben bernanke out this week saying that republicans have to go along with the president on this. did you agree, if a debt ceiling crisis, if we just don't pay attention to what the president is saying, are there big consequences? >> well, there would be if the debt ceiling was not lifted quickly enough. it is conceivable that the government shut down for a week, but by that time it becomes apparent that the shutdown of the government is causing unwanted stress for the u.s. economy, threatening to start another recession, and i would think that by that time both parties would be forced to comp
FOX Business
Jan 15, 2013 6:00pm EST
debt ceiling and lori about that pesky out of control spending later to considering as many 19 different gun-control measures that he could in force as he gears up for his comprehensive plan tomorrow. our president seems to think of himself like a king and said that our elected officials. joining me now, former adviser to president george w. bush. senior fellow at the cato institute. i will start with you. here is the president back in 2006 on the idea of raising the debt limit. he said, the fact that we are here today to debate raising america's debt limit is a sign of our leaders failing in the u.s. government cannot pay its own bills and i intend to oppose the effort to increase the debt limit to and here he is begging for the debt limit to be raised now that he is president. >> i think that he was right several years ago when he talked about the size of fiscal irresponsibility, but all of a sudden he seems to think it is just a wonderful, peachy keen idea. gerri: irresponsible thing to do . brad, to you. i am -- i went back and looked at the last time the government was not
ABC
Jan 14, 2013 4:00pm PST
ceiling. this morning the president says he will negotiate on spending cuts but not on the debt ceiling. mark matthews is here now with more on what sat stake. >> republicans in the house say they won't raise the debt gmu and president agree to corresponding cuts. the president outlined the stake autos the president began by defining the issue. >> debt keeling is not a question of authorizing more spending. it allows the country to pay for spending that congress is committed to. >> he said americans understand the concept. >> you don't go out to dinner and... then, you know eat all you want. and then... leave without paying a check. >> if you do that, it's against the law, said the president. he added if congress fails to raise the debt ceiling american people will pay the price. >> social security checks and veteran benefits will be delayed. we might not be able to pay our troops or honor our contracts with small business owner autos again and again, the president repeated the fact raising the debt ceiling only allows for payment of bills that congress has already racked up. but when w
MSNBC
Jan 16, 2013 2:30am PST
republicans are making a mistake by trying to link the debt ceiling to a deal on spending cuts. >> in the end, it's a threat they can't sustain. no one is going to default. no one is going to allow united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side. i don't think we should pick fights where we're in a position that we can't, in fact, in the end enforce our will. because we have no evidence of president obama's going to compromise. i think the president is deliberately seeking confrontation. he's going out of his way to bully the house republicans. >> and allen simpson, the co-founder of the campaign to fix the debt, also warning against bargaining over the debt ceiling. >> do you believe the gop should be using the debt ceiling as a leverage point to get the president to agree to the cuts? >> i think that would be a grave mistake. i don't think that would solve anything. i know they're going to try it. how far we'll go, i have no idea. if you're a real conservative, really honest conservative witho
FOX Business
Jan 22, 2013 4:00pm EST
, lauren, we'll get that vote tomorrow in the house to extend the debt ceiling to the middle of may. when it comes to a longer term debt solution, longer-term debt ceiling solution and when it comes to taxes and spending the parties are far apart as they always been a day of a the president's inauguration and one which both parties have a very different take on the president's address. >> people can criticize president obama about a lot of things but not his ability to communicate and i think he communicated to the american people a message of hope, a message of action, and i liked it very much. i, we should move past the name-calling phase. >> one thing was pretty clear from the president's speech yesterday. the era of liberal system back and unabashedly far left of center inauguration speech. certainly brings back memories of the democratic party of ages past. if the president pursues that kind of agenda, obviously it is not designed to bring us together. >> house speaker john boehner is meeting with the house republican conference right now. according to a source in the room boehner is calling for the republican party to present a budget that balances the federal budget in 10 years. given where democra
FOX News
Jan 14, 2013 7:00pm PST
actually voted against raising the debt ceiling. so what has changed now? congressman jason chaffetz nice to see you. >> well, congress spending pushing and the president pushing for this? we have to stop the spending. like the alcoholic who won't give up his drink anymore, you have to slow this. >> greta: what president obama said today he's basically executing what you in congress are telling him to do. you authorize the spending and he's got to pay the bills. and so now you're saying he can't borrow the money. >> no, we've got to make sure we prioritize the payment of the 16.4 trillion dollars that this government owes, but we have to solve the problem. we don't need just the deal. we actually have to solve the problem and the way you solve that problem is it cut up the credit card and slow the spending to a point where you actually cut into the deficit and pay off the debt. >> you know what i didn't like today. i thought it was annoying, he may have to slow down social security payments if-- and tell you why, there's never any suggestion maybe congress shouldn't be paid salaries, the senate not be paid salaries, the president not
FOX Business
Jan 21, 2013 11:00am EST
running out into her three months from now. as well as, the debt ceiling having to be raised yet again. republicans hope this is when they will be able to get the leverage to push spending cuts and entitlement reform. neil: you know, peter, what we look at -- how does that decide? there is a protocol. sitting in and around that i see ron emanuel sitting close to president clinton, how are those seats sold out? >> by protocol and tradition, all former presidents are invited, of course. both president bush, 41 and 43 the client to come. i believe president carter is not attending, but president lyndon is. then, of course -- neil: carter is there. peter: okay. neil: i only saw that because i saw his picture. peter: other seats are given out by the committee. then there are seats that are doled out by congressional offices. about 1500 folks get to sit up there on the big landing on the west front of the capitol. neil: all right. peter, thank you very much. this is all behind the president right now. this will be the one that the president will put on his hands as he is sworn in. it will be the fourth swearing-in for barack obama matching fdr's record. you may remember there was
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